Silver’s Trend & the Death of Technical Analysis
BY STEVE ST. ANGELO
FinancialSense.com
04/05/2012
The death of technical analysis has arrived. What took place in the markets (especially in the precious metals) on April 3rd & 4th proves this in spades. There were several calls made prior to the takedown, by some very well known individuals in the precious metal field, that became NULL & VOID when either bottoms or chart patterns failed.
I am not going to name names, but I would imagine those who have been following the gold and silver markets for quite some time, know who I am talking about. That being said, I don’t blame them one bit. Trying to make short term calls based on technical analysis presently has become nearly impossible when the markets are constantly manipulated. I think it is time that we all just realize a monkey throwing a dart at a trend line on a wall is just as useful as short term technical analysis.
There are only a few technical analysts that I respect. They gain my favor due to the fact that they use technical analysis to forecast future inflationary trends. Those who are still predicting deflation in their charts may need to find other employment as their calls have been wrong time and time again.
Furthermore, I am completely surprised by the psychotic nature of the so-called RISK ON & RISK OFF TRADE. Doesn’t anyone take the time to stand back for a minute and just look at what is going on? Does anyone see the insanity of it all? It is simply amazing to watch grown adults place bets one day, and then take them back the next – a trend which occurs over and over again.
The Rest…HERE
